Australia's largest medical insurer, United Medical Protection (UMP), announced Monday it will apply early next week to appoint a provisional liquidator, Australian Broadcasting Corp. reported.
The move casts doubt on the future of 60 percent of Australia's doctors, who are insured by the company.
The plight of the beleaguered medical insurer, which has been struggling under the weight of massive claims payouts, has sparked reassurances by the government to doctors that physicians and the medical services they provide, will stay protected.
Doctors have warned they may have to leave their profession if the insurance company stops providing coverage.